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CITX OF NORTH OLMSTED RESOLUTION N0. 1:.G~~~ BY: ~-- RESOLUTION AWARDING TWO ISSUES OF BONDS TO THE HIGHEST BIRDER, AND DECLAFtIl~G AN EME~iGI~NCY. WIiEREAS, on the 17th day of August, 1971, bids were received for the purchase of $187,100 Municipal Bus Purchase Bonds and $x+2,000 Service Department Equipment Bonds authorized by Ordinances Nos. 71-94 and 71-93, respectively, passed June 15, 1971, following due advertisement of said bonds for public sale in accordance with law, which bids were as follows: Amount of Bonds Name of Bidder Bid For Interest Rate Premium Roose, Wade & Co. $229,100 5 1/8% $561.30 Ryan, Sutherland & Co. $229,100 5 1/8% $288.67 McDonald & Co. $229,100 5 1/8% $486.00 Ball, Burge & Kraus $229,100 5 % $398.63 WHEREAS, the bid for Ball Bur e & Kraus has been determined to be the highest bid for sa d bon sse upon the lowest rate of interest; and NOW, THEREFORE, BE IT RESOLVED by the Council of the City of North Olmsted, Cuyahoga County, Ohio: Section 1. That the aforesaid $187,100 Municipal Bus Purchase Bonds and X4,2,000 Service Department Equipment Bonds authorized by Ordinance Nos. 71-94~ and 71-93, respectively, passed June 15, 1971, maturing as provided in said ordinances and bearing interest at the rate of five per centum per annum, be and they are hereby awarded and sold to Ball. Bursze & Kraus _ Clay l nd , Ohio. Section 2. That the Director of Finance be and he is hereby authorized and directed to cause said bonds to be printed fortYnvith and thereupon to have the same exiecuted and delivered, together with a true transcript of the proceedings authorizing said bonds to said successful. bidder upon payment of the par value thereof, plus the aforesaid pro rated premium and accrued interest to date of delivery. Section 3. That the Director of Finance is hereby authorized and directed to certify a capgy of this resolution to the Auditor of Cuyahoga County according to law.